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STAT40100

Academic Year 2024/2025

Actuarial Mathematics 2 (STAT40100)

Subject:
Statistics & Actuarial Science
College:
Science
School:
Mathematics & Statistics
Level:
4 (Masters)
Credits:
5
Module Coordinator:
Dr Adrian O'Hagan
Trimester:
Spring
Mode of Delivery:
On Campus
Internship Module:
No
How will I be graded?
Letter grades

Curricular information is subject to change.

The aim of this subect is to provide a grounding in the mathematical techniques which can be used to model and value cashflows dependent on death, survival or other uncertain risks. It therefore covers CM1 (along with Act Maths 1)
Topics include:
Unit-linked policies
Multiple decrements
Pension funds
Heterogeneity and selection within a population
Some demographic topics
Use of Excel spreadsheets and simple VBA programmes to carry out Actuarial calculations
Principles of Actuarial Modelling

About this Module

Learning Outcomes:

At the end of the module students should be able to:Calculate the unit fund, cash fund and measures of profit for unit-linked policiesDerive and use commutation functions to perform valuations of the main retirement benefits (including death benefits and contributions)Understand sources of heterogeneity amd methods for analysing same with regard to mortality levelsConstruct single figure indices to represent features of mortality data sets

Indicative Module Content:

unit fund, cash fund, measures of profit for unit-linked policies. commutation functions. sources of heterogeneity. mortality levels. single figure indices. features of mortality data sets

Student Effort Hours:
Student Effort Type Hours
Lectures

24
Tutorial

9
Autonomous Student Learning

95
Total

128

Approaches to Teaching and Learning:
problem solving. lab work. reflective learning. blended learning with video content, lectures.

Requirements, Exclusions and Recommendations

Not applicable to this module.


Module Requisites and Incompatibles
Co-requisite:
STAT40060 - Act. Maths 1


 

Assessment Strategy
Description Timing Component Scale Must Pass Component % of Final Grade In Module Component Repeat Offered
Exam (In-person): Final
Exam		 End of trimester
Duration:
2 hr(s)
 Other No
70
 No
Assignment(Including Essay): Theory questions Week 9 Other No
10
 No
Exam (In-person): Lab test Week 7 Other No
20
 No

Carry forward of passed components
Yes
 

Resit In Terminal Exam
Summer Yes - 2 Hour
Please see Student Jargon Buster for more information about remediation types and timing. 

Feedback Strategy/Strategies

• Feedback individually to students, post-assessment
• Group/class feedback, post-assessment

How will my Feedback be Delivered?

Homework assignments individually graded and returned. Group feedback also given in tutorial setting.

Name Role
Mr James Hannon Tutor

Timetabling information is displayed only for guidance purposes, relates to the current Academic Year only and is subject to change.
Spring Tutorial Offering 1 Week(s) - 20, 21, 22, 23, 24, 25, 26, 29, 30, 31, 32, 33 Mon 10:00 - 10:50
Spring Lecture Offering 1 Week(s) - 20, 21, 22, 23, 24, 25, 26 Mon 11:00 - 11:50
Spring Lecture Offering 1 Week(s) - 29, 30, 31, 32, 33 Mon 11:00 - 11:50
Spring Lecture Offering 1 Week(s) - 20, 21, 22, 23, 24, 25, 26 Tues 12:00 - 12:50
Spring Lecture Offering 1 Week(s) - 29, 30, 31, 32, 33 Tues 12:00 - 12:50
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